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The Markets July 1, 2013
Mutual Fund Assets Rose in May
The combined assets of the nation’s mutual funds rose by $89.1 billion, or 0.6%, to $13.94 trillion in May.
Reported by Kevin McGuinness
Data from the Investment Company Institute shows long-term funds such as stocks, bonds and hybrid funds had a net inflow of $23.27 billion in May, compared with an inflow of $29.02 billion in April.
Stock funds posted an inflow of $5.49 billion in May, compared with an inflow of $4.34 billion in April. Among stock funds, world equity funds–U.S. funds that invest primary overseas–posted an inflow of $9.35 billion in May, compared with an inflow of $5.76 billion in April. Funds that invest primarily in the United States had an outflow of $3.86 billion in May, compared with an outflow of $1.42 billion in April.
Hybrid funds posted an inflow of $6.07 billion in May, compared with an inflow of $12.64 billion in April.
Bond funds drew in $11.70 billion in May, compared to $12.03 billion in April. The net inflow to taxable bond funds was $12.69 billion for the month, while municipal bond funds had an outflow of $989 million.
Money market funds posted a $27.81 billion inflow in May, compared with an outflow of $24.43 billion in April. Funds offered primarily to institutions received $23.51 billion, while funds offered primarily to individuals had an inflow of $4.30 billion.
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